U.S. President Donald Trump announced Wednesday that he is backing down from his threat to levy new tariffs on European countries over their opposition to his effort for the U.S. to acquire Greenland, saying the two sides have established a “framework” for a deal regarding the Arctic island.
"Based upon a very productive meeting that I have had with the Secretary General of NATO, Mark Rutte, we have formed the framework of a future deal with respect to Greenland and, in fact, the entire Arctic Region," President Trump said in a statement on his Truth Social platform. "This solution, if consummated, will be a great one for the United States of America, and all NATO Nations. Based upon this understanding, I will not be imposing the Tariffs that were scheduled to go into effect on February 1st."
WATCH | Trump announces 'framework' of deal on Greenland
It follows the president's previous announcement that starting Feb. 1, U.S. imports from Denmark, Norway, Sweden, France, Germany, Finland, the Netherlands and the United Kingdom will face a 10% tariff. The rate was then slated to increase to 25% on June 1.
President Trump had linked the tariffs threat to European opposition to Washington’s proposal to acquire Greenland, an autonomous territory within the Kingdom of Denmark that largely governs itself.
RELATED STORY | Trump says he won’t use force to take Greenland, presses case at Davos
President Trump has repeatedly argued that the U.S. needs Greenland for strategic and national security reasons amid increasing Chinese and Russian activity in the Arctic. A NATO spokesperson said negotiations moving forward will focus on "ensuring that Russia and China never gain a foothold — economically or militarily — in Greenland."
"The Secretary General had a very productive meeting with President Trump during which they discussed the critical significance of security in the Arctic region to all Allies, including the United States," NATO Spokesperson Allison Hart said in a statement obtained by Scripps News. "Discussions among NATO Allies on the framework the President referenced will focus on ensuring Arctic security through the collective efforts of Allies, especially the seven Arctic Allies."
WATCH | Trump meets with oil executives over plans for Venezuela investment
